Understanding Escrow Before Buying a Home
Everyone dreams of owning their own home and most people can’t wait to say goodbye to renting. It’s important for you to know that when you purchase a home and obtain a home loan, it’s likely that your lender will require you to have an escrow account. And, maybe you’ve already heard this term, but…
W567W246
Closing Costs When Buying a Home
Closing costs are fees and charges due at the closing of a real estate transaction that are in excess of the purchase price of the property. Both buyers and sellers are subject to closing costs and associated fees from the sale of the home. How much you’ll pay in closing costs depends on the price…
Home Equity Loan vs. Home Equity Line of Credit
Did you know that homeowners can use the equity in their home to borrow money for just about anything? And, because the loan is secured with collateral (the home) the rates are usually much better than traditional personal loans or credit cards because the risk to financial institution is reduced. Home Equity Loans and Home…